Summize raises £5m Series A funding from YFM Equity Partners and Maven Capital Partners to drive US expansion.
The Series A round was backed by YFM Equity Partners and Maven Capital Partners to support international expansion and product development.
Summize provides an artificial intelligence powered contract lifecycle management platform that integrates directly with everyday workplace software. The business helps corporate legal teams automate workflows and streamline document management.
Contract lifecycle management provider Summize has secured £5m in Series A funding from YFM Equity Partners and Maven Capital Partners. The capital will be deployed to accelerate product development, expand sales and marketing operations, and prepare for entry into the United States market next year.
The company offers an integrated software solution that embeds within existing corporate platforms like Slack and Microsoft Teams to automate contract review and creation. Founded in 2018, Summize currently serves over one hundred enterprise customers globally, including major brands such as Vodafone and Fujifilm.
From the founder
"The demand we’re seeing for our technology to solve a genuine problem, experienced by all businesses that deal with contracts, has been extraordinary. It’s clear that most businesses have a challenge when it comes to scaling contract processes and making the entire process much easier and faster. Bolstered by YFM’s support, we are in prime position to develop our game-changing approach to digital contracting even further."
Tom Dunlop
CEO and co-founder at Summize
Investor perspective
"Summize are deliberately different and their disruptive approach stood out to us. They have developed a really effective solution to helping drive legal departments and processes on the digital journey, and one which is attractive to users as it operates as an extension of existing ways of working. The efficiency benefits are quickly apparent to clients with estimates that users of the platform save 85 per cent in time spent reviewing contracts."
Mike Clarke
Partner, YFM Equity Partners
Use of funds
- 01Continue product development
- 02Expand into international markets
- 03Invest in sales and marketing
